Effortlessly grant, change, or terminate fund memberships as employees transition through their career, with a full history log of every status change.
Harmony HRMS Employee Funds
Secure Your Workforce’s Future with Transparent HCM Software
Harmony’s comprehensive Employee Funds module provides a robust, automated framework for managing contributions, investment tracking, and withdrawals, delivering peace of mind to your employees and ensuring compliance for your auditors.
Policy Driven Advances and Withdrawals
Flexible access managed by rigorous policy
Empower your employees without compromising fund integrity. Define granular rules for fund withdrawals, partial payouts, or loans against funds. Harmony’s HRMS allows for policy‑driven approvals, ensuring that eligibility checks such as years of service or prior loan status are automatically verified before funds are released.
Funds Built to Fit Your Organization
Any fund type, your rules. No code
Define completely new fund categories such as pension, gratuity, benevolent, or any statutory scheme with Harmony’s user-defined fund builder. Configure independent employee and employer contribution formulas, vesting rules, and income application logic with complete flexibility. The system automatically enforces membership eligibility and generates separate registers, statements, and balance certificates for every fund.
Tax‑Compliant Fund Automation
Stay ahead of every tax requirement, automatically
Harmony instantly calculates the taxable impact of employer contributions, fund income, and withdrawals as per your local regulations. Tax‑exempt thresholds, tax credits, and gross‑up logic are embedded in Harmony, so every employee statement and statutory return is produced without manual intervention.
More reasons to switch with Harmony
Dynamic Fund Lifecycle
Financials Validation
Ensure financial oversight with mandatory verification; payouts and loans activate only after secondary approval.
Customizable Fund Design
Build any fund type with your own formulas, contribution logic, and vesting rules. No coding, no vendor lock‑in, just complete control.
Funds Self-service (Employee Self-Services)
Give employees instant access to fund balances, contribution histories, annual statements, and withdrawal requests directly from the portal.
Individual Benefit (IBS) Integration
Link specific fund contributions directly to specialized benefit triggers for a unified administrative experience within your HCM System.
Historical Audit Ledgers
Access a permanent record of every contribution and payout ever made, complete with transaction numbers and date stamps—essential for financial audits.
FAQ
Frequently Asked Questions
Harmony’s HRMS uses a mandatory posting and verification process. Every fund transaction must be processed by an analyst and verified by an admin, ensuring no unauthorized payout or adjustment is ever executed in the HCM System.
Yes, you can define at the category level whether an employee’s signature is mandatory for fund requests. If marked true, the system requires a verified E-signature upload before posting. Furthermore, you can implement multi-tier E-approvals, ensuring all employee fund management requests are digitally authorized by the required stakeholders before disbursement.
Harmony’s HRMS software features a "DAC/IR" flag. If an employee is involved in active disciplinary action, the system can automatically place a hold on fund withdrawals or loan requests until the case is cleared.
Absolutely, you can define specific vesting rules based on years of service or employee grade within the HRIS, ensuring that payouts only occur when policy requirements are met.
You choose the method—weighted average, month‑end balance, or year‑end balance. Harmony then automatically computes each member’s share of profit, posts it to their individual PF ledger, and generates a complete distribution schedule. All calculations are logged and audit‑ready.
Yes, Through the ESS portal, employees can view their current fund balances, monthly contribution details, annual statements, and withdrawal history. They can also initiate new withdrawal requests directly from the portal, which then follow your configured approval workflow.
Absolutely, employees can apply for PF‑backed loans via ESS. The system automatically validates eligibility, calculates the installment schedule, and manages recovery through payroll. The outstanding loan amount is tracked against the member’s PF balance for full transparency.
Helping Businesses of all Sizes for 32+ Years
Leading Fortune 500 companies trust our enterprise solutions for HR, payroll and quality
Testimonials
What They Say About Us
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